Crypto Rallies Ahead of FOMC, Lens Partners with Avail
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CRYPTO MARKET UPDATE The most notable market development over the past 24 hours has been the sharp increase in rate cut probabilities for next week’s FOMC meeting. After falling to just a 14% likelihood of a 50bps cut, the odds jumped to over 40% in after-hours trading following a large trade betting on two cuts. This shift may be linked to the optimism around the potential for two cuts conveyed...
CRYPTO MARKET UPDATE CPI came in slightly above market expectations, primarily driven by persistent shelter costs, though these were partially offset by deflationary energy prices. As a result, rate cut expectations for next week’s FOMC meeting have dropped to 25 basis points. Following the CPI release, crypto markets, along with other risk assets, initially sold off as the market digested the data. However, prices have since rebounded, with BTC 3.33% trading...
CRYPTO MARKET UPDATE Following an overnight recovery, crypto prices have once again aligned with equities, which have drifted lower since the U.S. market open. BTC 3.33% is hovering around $55,000, ETH 1.40% is just below $2,300, and SOL -0.77% is trading just under $130. Before the broader market pullback over the past couple of hours, several altcoins had been outperforming, with AAVE -0.35% leading among the top 50. AAVE has continued to show strength...
MARKET UPDATE U.S. EQUITIES ARE RELATIVELY FLAT ON THE FINAL DAY OF TRADING FOR AUGUST, WITH THE ^SPX 0.09% OSCILLATING AROUND $5,600 AND THE NDQ TRADING NEAR $19,400. Rates and the dollar are gaining today despite PCE and Consumer Confidence data providing more assurance that inflation is receding. Crypto is underperforming, with BTC 3.33% falling to $58.5k and ETH 1.40% at $2,450, as ETF flows and spot volumes have been muted this week....
